An investigation into a construction firm sparks allegations of bribes from Panama to Peru.
Prosecutors in Panama have arrested the partners of a law firm involved in last year’s Panama Papers scandal in which thousands of documents related to offshore accounts were leaked.
Two Honduran executives allegedly used a Panamanian business and a US bank to pay $2.5 million in bribes, suggesting that banks based in Panama and the United States may be involved in one of the biggest corruption cases in Honduras.
A preparatory document for MEPs of the Panama Papers committee of inquiry has suggested that the committee’s focus should be on the alleged failure to enforce anti-money laundering rules, and taxation and auditing directives.
From the Panama Papers to the impeachments of the presidents of Brazil and South Korea, 2016 was a year marked by corruption scandals, and by rising public outrage over graft.
In a major boost to global efforts to fight wildlife crime, a consortium of 11 organizations shone a light on illicit financial flows and corruption during the 17th International Anti-Corruption Conference (IACC) in Panama identifying a series of steps to help tackle the scourge.
Panama can remain a competitive financial centre while cracking down on tax evaders and other criminals who have used the country to launder money, according to the panel formed by the government after the “Panama Papers” scandal broke in April.
The British Virgin Islands independent regulator, the Financial Services Commission (FSC), has fined the local arm of the Panama Papers law firm, Mossack Fonseca, $440,000 for its contravention of numerous sections of the Anti-Money Laundering and Terrorist Financing Code of Practice and BVI Regulatory Code.
There needs to be a “comprehensive global approach” against secret tax structures, says the Nobel Prize-winning economist, Joseph Stiglitz, who called for “zero tolerance”. Speaking to Parliament’s Panama Committee on Wednesday, the former advisor to the Panamanian government suggested that secrecy in tax affairs should be treated like a disease which needs to be isolated.
Campaigners have frequently branded the UK a world money-laundering hotspot, citing the 'terrifying' scale of illicit funds that make their way through the City of London. Is this fair? What is the UK Government doing to ...
Tom Devlin interviews Sam Thampapillai, associate in the financial services disputes and investigations group at Eversheds Sutherland. Sam has focused his recent work on developing technologies and financial crime. In this video he focuses on Blockchain, offering an ...
In late November, Jay Clayton was called by a longtime client seeking advice for how the Trump administration should tackle scaling back rules on Wall Street. Mr. Clayton, a partner at Sullivan & Cromwell LLP who ...
The old Ottoman Empire had the most direct way of going about these things. When the old sultan died, his successor would seize all his brothers and half-brothers, slit their throats and dump their corpses ...
European Supervisory Authorities warn on money laundering and terrorist financing risks affecting the EU financial sector
The three European Supervisory Authorities (EBA, EIOPA and ESMA - ESAs) published today a joint Opinion addressed to the European Commission on the risks of money laundering (ML) and terrorist financing (TF) affecting the European ...
China has appointed Guo Shuqing as the new head of the banking regulator, according to people familiar with the matter. Having spent much of his life working on transforming the nation’s financial system, Guo, 60, faces daunting tasks ahead as he takes on oversight of the world’s largest banking industry by assets.
The regulations apply to all-cash buyers using shell companies in places like New York City, Miami and Los Angeles.
Just 215 wealthy people were granted an investor visa for the U.K. last year after the government doubled the investment needed to 2 million pounds ($2.5 million) and introduced new money-laundering checks in 2014.
Capital One Financial Corp. is under investigation for its anti-money-laundering program, according to the company’s annual securities filing.